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Article: Chevy Chase Bank Case Rekindles Debate on Redlining
- Article from:
- The Washington Post
- Article date:
- September 26, 1994
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Indications are that Chevy Chase Federal Savings Bank is
proceeding as it said it would last month when it agreed to a
settlement with the Justice Department after having been accused of
discriminatory marketing practices.
And why not? After all, B. Francis Saul II, Chevy Chase's
chairman, insisted immediately after the settlement that the savings
bank and its subsidiary, B.F. Saul Mortgage Co., have "always
favored" the approach to which the companies agreed in the
settlement.
Bear in mind that Chevy Chase adamantly denied the Justice
Department's allegations before and immediately after it signed a
consent decree in August.
"One reason we agreed to this settlement," Saul said at ...